Masqat-based Octal (Oman; www.octalglobal.com) today considers itself to be the leading global producer of PET rigid film and resin, at least according to the conclusions drawn by CEO Nicholas Barakat after five years of operations. The group, which has more than 400 employees worldwide and turns out 350,000 t/y of PET resin and film, expects sales to reach EUR 400m this year. Expectations are that Octal will continue to expand, with EUR 600m in investment moneys earmarked for the next five years.

Barakat says this rapid expansion can be explained by the group’s proprietary “DPET” technology, by means of which PET is created in a single reactor and turned into rigid film without having to undergo any intermediate steps, including drying or extrusion. Compared to traditional PET film, this process is said to require 67% less electricity and 20% less gas, while the CO₂ footprint is even 25% lower. In the words of Greiner Packaging UK executive Jarek Zasadzinski, Octal’s new technology has created a revolution.

Already next year the group plans to build a DPET-technology powered plant in Oman, raising overall capacity to 927,000 t/y. Sales are expected to pass the EUR 1 bn mark. “Our order books are filled, but we still want to offer additional capacities, especially for the US and Asia,” Barakat said.